turar Posted September 1, 2010 Share Posted September 1, 2010 I'm curious as to how much money Bruce is raking in now. It's got to be more since he moved from New Jersey to Florida a couple of years ago. I'd say quite a bit. :) According to Miami-Dade PA, he bought 2 adjacent properties right on the water on Tahiti Beach Island for a total of $23 million. So yeah, why should he close the fund? ;D Link to comment Share on other sites More sharing options...
PlanMaestro Posted September 1, 2010 Share Posted September 1, 2010 The one thing that bothered me about the interview was that I thought he skirted around the question regarding Citi and other financials being black boxes. He famously said that he read 1-2 pages in the 10K of AIG about derivatives and didn't understand it, so he passed on all the financials. Now when she asked about Yacktman claiming that they are black boxes, he sort of answered, but he didn't take the question straight on I don't think. He did say that they've had time to play out, and that there has been a lot of scrutiny, but he didn't say anything about derivatives etc. I was a bit disappointed in that. But I still like the guy :-) I think he did answer it, at least for the banks: - In shrink mode is almost impossible to hide bad news - Loans last 2-5 years so the problem 2005-2007 vintages are mostly behind - The new vintages with solid LTVs and good pricing because of the lack of competition start to ramp up - You can check the cash yields of the whole portfolio and nonperforming loan portfolio to check how conservative is the accounting - Capital ratios and reserves are OK - For some of them, you have Sheila Blair on their back ... not the most reasonable of regulators Al companies are black boxes, investing is an exercise of bayesian speculation. And it is very difficult today to reject the large banks based on credit issues. Maybe reject them for the potential of a financial meltdown, but what would trigger it? Link to comment Share on other sites More sharing options...
Grenville Posted September 2, 2010 Share Posted September 2, 2010 I'm curious as to how much money Bruce is raking in now. It's got to be more since he moved from New Jersey to Florida a couple of years ago. I'd say quite a bit. :) According to Miami-Dade PA, he bought 2 adjacent properties right on the water on Tahiti Beach Island for a total of $23 million. So yeah, why should he close the fund? ;D Turar, How did you find the real estate transaction for Bruce? Is there a site that let's you search by name? Link to comment Share on other sites More sharing options...
turar Posted September 2, 2010 Share Posted September 2, 2010 Turar, How did you find the real estate transaction for Bruce? Is there a site that let's you search by name? Yes, almost every property appraisal/assessment district allows you to search public records online. In this case, it's Miami-Dade Property Appraiser: http://www.miamidade.gov/pa/property_search.asp Link to comment Share on other sites More sharing options...
Grenville Posted September 2, 2010 Share Posted September 2, 2010 Turar, How did you find the real estate transaction for Bruce? Is there a site that let's you search by name? Yes, almost every property appraisal/assessment district allows you to search public records online. In this case, it's Miami-Dade Property Appraiser: http://www.miamidade.gov/pa/property_search.asp Thank you for the link! I will look into it. Link to comment Share on other sites More sharing options...
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